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History of Financing College Education

During the year of 2009, so many parents were struggling and unable to afford the cost of college they became very frustrated. The fact that unemployment was very high, salaries were not getting any higher made the choice of attending school for some out of the question. On the other hand there where some that realize that no matter what the increase of college cost was it would be well worth it if you obtained a degree.
             Over 70 years back most thought going to college was something only the well-to-do did. Soon after the II World War the military came up with an Act that allowed those servicemen to attend college. There were veterans going to college who never imagined that they would ever have the opportunity to attend a college. The GI Bill allowed millions to go back to school, John Thelin, a professor at the University of Kentucky and author of, "A History of American Higher Education," stated that this could be one of the reasons that the cost of higher education began to rise. The fact that so many veterans was attending college it lead to the increase need for more colleges and this is when the expenses had to rise so that more colleges could be built to keep up with the demands for higher educations.
             John Thelin states in, "How the college went from affordable to sky-high," that back in, "1965 to 1972," the government began to pave a new road along with the states by investing, in the people by coming up with a program called the National Defense Student Loan Program, which later became the Federal Perkins Loan Program. This program was to the civilians what the GI Bill was to the veterans. These opportunities mad the demand for colleges even bigger. Back in 1965 the demand became even bigger for the females and minorities because of civil rights movement higher education act 1965 made the demand greater. During the 1965 to 1972 institutions began to help personally by paying out of pocket providing grants and partnered with the government and came up with financial aid assistance to students.


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